The Placement includes a strategic equity investment of A$2 million from Sichuan Hebang Biotechnology
Corporation Limited (SHSE: 603077) (“Hebang”). In addition, Avenira has entered into a non-binding
Strategic Cooperation and Offtake Memorandum of Understanding (“MOU”) with Hebang. The MOU
establishes a framework for close cooperation between Avenira and Hebang for the development of the
Wonarah Project, covering the development of a yellow phosphorous plant, direct shipping of phosphate
ore and the development of renewable energy solutions.
GLA
Ann: Operational & Financial Update, page-174
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